DOE seizes $21 million from Fisker

Fisker Automotive missed a payment on its loan from the Department of Energy on Monday, but the DOE said yesterday it seized $21 million from the company’s account 12 days ago in anticipation of a default.

“Given the obvious difficulties the company is facing, we are taking strong and appropriate action on behalf of taxpayers,” the Energy Department said in a statement, according to the Wall Street Journal. The DOE “recouped the company’s approximately $21 million reserve account — funds that came from the company’s sales and investors, not our loan — and will apply those funds to the loan.”